Personal Money Management Exam #1

Front 1

In recent years, the demand for manufacturing jobs in the US has increased due to reduced foreign competition

Back 1

false

Front 2

Libraries usually have a variety of information sources for career planning and job exploration

Back 2

true

Front 3

education, training, and the demands for a person's skills are major influences on salary

Back 3

true

Front 4

continuing career education can be in a formal or an informal setting

Back 4

true

Front 5

references are commonly not included on a resume

Back 5

true

Front 6

the first step of the career planning process is to

Back 6

assess your interest, abilities and goals

Front 7

a lack of willingness to accept a variety of employment positions is a common career planning associated with weak

Back 7

flexibility

Front 8

efficient work habits are an example of

Back 8

an employees intiative

Front 9

a common criticism of including a career objective on a resume is that it

Back 9

is frequently the same as that of other candidates

Front 10

the education section of a resume should include

Back 10

schools attended

Front 11

special class projects can be presented on a resume as what kind of experience

Back 11

research

Front 12

a what kind of resume presents a person's education, work experience, and other information in a reverse time sequence

Back 12

chronological

Front 13

a what kind of resume is designed to obtain a specfic job

Back 13

targeted

Front 14

for an entry level position, a persons resume is likely to be

Back 14

1 page

Front 15

creative resumes or those with a gimmick are most appropriate for careers in

Back 15

advertising

Front 16

the purpose of a cover letter

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apply for a jobo

Front 17

an interview designed to reduce the number of candidates for a position to a workable size is an blank interview

Back 17

screening

Front 18

the purpose of a selection interview is to

Back 18

question candidates for a job in details

Front 19

which of the following would likely lead to the most added income over an individuals working career

Back 19

professional or doctorate degree

Front 20

which of the following is not a main purpose of a budget

Back 20

spend your money without care

Front 21

when creating a budget, which of the following statements is true

Back 21

numbers in the budget are estimates

Front 22

when creating a budget, it is important to

Back 22

set aside saving before other expenses are budgeted

Front 23

the difference between the amount budgeted and the actual amount received or spent is called the

Back 23

variance

Front 24

a budget deficit would result when a person's or family's

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actual expenses are greater than planned expenses

Front 25

after the budget is created, it is important to

Back 25

track spending and identify variances

Front 26

which of the following categories would be most difficult to cut from a household budget

Back 26

auto insurance

Front 27

a budget that involves envelopes, folders or containers to hold money or slips of paper is called a

Back 27

physical budget

Front 28

a budget that can be kept on notebook paper or budgeting paper is called a

Back 28

written budget

Front 29

financial advisers suggest that an emergency fund should cover one to two months of living expenses

Back 29

false

Front 30

when creating a budget, it is important to save the amount you have left at the end of the month

Back 30

false

Front 31

rebecca budgeted 345 for a new wardrobe. she actually spent 378. What is her budget variance

Back 31

33 deficity

Front 32

rebecca budgeted 1050 for housing and utilities. She actually spent 962. what is her budget variacne

Back 32

88 surplus

Front 33

the current financial position of an individual or family is a common starting point for financial planning

Back 33

true

Front 34

net worth is subtracting liabilities from assets

Back 34

*

Front 35

another name for a closed end credit

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installment credit

Front 36

another name for open credit is

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revolving credit

Front 37

direct loan of money for personal purposes

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installment cash credit

Front 38

in determing your credit capacity, you first provide for basic necessities such as

Back 38

mortgage or rent

Front 39

the credit bureau cannot charge you a disclosure fee if you ask to see your file within how many days of being notified of a denial based on a credit report

Back 39

60 days

Front 40

the borrowers attitude toward his or her credit obligations is called

Back 40

character

Front 41

the borrowers financial ability to meet credit obligations is

Back 41

capacity

Front 42

a term that refers to the borrowers assests or net worth is called

Back 42

capital

Front 43

which federal law limits a cardholders liability for unauthorized use of a card to 50$

Back 43

truth in lending act

Front 44

which of the following is important to do if you want to avoid credit card fraud

Back 44

sign your card as soon as you get it

Front 45

what should you do when you shop online using you credit card

Back 45

use a secure browser

Front 46

jennfier needs a loan to purchase a new car. she knows the creditor must

Back 46

evaluate her on the same basis as applicants who are male

Front 47

by paying cash for a purchase, you

Back 47

forgo the opportunity to keep the cash in a interest bearing account

Front 48

the max amount of credit you are allowed by a creditor is called

Back 48

line of credit

Front 49

an unauthorized person who obtains a credit report under false pretenses may be

Back 49

subject to fine and imprisionment

Front 50

which federal consumer credit law starts all credit applicants off on the same footing

Back 50

equal credit opportunity act

Front 51

a bank that is looking at y our past payment records on your laons is most lieky examining which aspect of the 5 Cs of lending

Back 51

character

Front 52

which federal law protects you by requiring credit bureaus to furnish correct and complete information to creditors

Back 52

fair credit reporting act

Front 53

jake purchases a big screen tv on a credit card and will repay the loan with one payment at the end of 90 days. what type of credit did jake use

Back 53

single lump sum credit

Front 54

sam knows the credit companies must evaluate her on the same basis as a borrower who is male. which consumer protection law guarantees her this right

Back 54

equal credit opportunity act

Front 55

brenda plans to rent instead of buy her housing. what advantage of renting will brenda encounter

Back 55

lower intial costs

Front 56

the legal document involed in renting an apartment is called a

Back 56

lease

Front 57

ownership of an indivifdual housing unit in a building is commonly called

Back 57

condominium

Front 58

a conventional mortgage usually involves

Back 58

equal payments

Front 59

a short term mortgage with a very large final payments is called a blank mortgage

Back 59

balloon

Front 60

a home equity loan may also be referred to as a blank mortgage

Back 60

second

Front 61

a cost associated with home buying would be

Back 61

property taxes

Front 62

renting would be most appropriate for people who

Back 62

have limited funds currently availbale

Front 63

what does it mean to sublet an apartment

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to obtain another tennant to complete a lease period

Front 64

the purpose of a security deposit is to

Back 64

pay for potential damages

Front 65

a common financial benefit of home ownership is

Back 65

increased property value

Front 66

a common financial risk of home ownership is

Back 66

property values may decrease

Front 67

which of the following would increase the amount that a person could afford to spend on a home

Back 67

increased family income

Front 68

the most commonly considered factor when selecting a home is the

Back 68

location of the home

Front 69

as wally conducts an investigationm of property value factors, most real estate experts tell him that blank most incluences the housing valus in the area

Back 69

quality schools

Front 70

a real estate agent can best assist a homebuyer by

Back 70

assisting in getting a mortgage

Front 71

the purpose of a counteroffer is to

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negotiate the purchase price

Front 72

earnest money has the purpose of

Back 72

serving as a good faith by ahomebuyer

Front 73

the amount of mortgage a person is eligible for would be incresed by

Back 73

lower interest rates

Front 74

what is prepaid interest charged by a mortgage company

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points

Front 75

a possible disadvantage of FHA an VA mortgages can be a

Back 75

longer processing time

Front 76

refinancing of a mortgage is recommended when

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interest rates fall

Front 77

the purpose of an appraisal is to

Back 77

estimate the current value of a home

Front 78

if you sell your home without the use of a real estate agent, you should still make use of a

Back 78

lawyer

Front 79

all of the following statements are considered to be good advice for a potential investor starting an investment program except

Back 79

increase credit purchases and make installment payments in order to increase cash availabkle for investing

Front 80

an emergency fund should be deposityed in a

Back 80

savings account at the higest available interest rate

Front 81

all earns 3000 $ per month. he pays his mortgagem utilities, and other bills and then he makes sure to set aside 150 for his savings and investment accounts before he spend oney to go to movies and others expenses. which suggestion for obtaining the mooney he needs for investing is he following

Back 81

paying himself first

Front 82

james has a mutual fund that autmaticallt take 50 $ out his checking account each month. which suggestion for obtaining the money he needs for investing is he following

Back 82

participating in an elective savings program

Front 83

after chthe ease with which an investment can be converted to cash without a substantial loss in dollar value is called the

Back 83

liquidity factor

Front 84

equity capital is money

Back 84

obtained from the owners of the business

Front 85

a type of investment that combines an invests the funds of many investors and manages it with a professional manager is called a

Back 85

mutal fun

Front 86

which of the following is not a business periodical

Back 86

new york stock exchange report

Front 87

the fees for investor services and newsletters generally range from blank a year

Back 87

30-1000$

Front 88

standard and poors and megents are companies that would be examples of

Back 88

investors services

Front 89

the maturity dates for most bonds range between blank years

Back 89

1 to 30 years-